BLOG: UNLOCKING CARRIER OPPORTUNITIES IN BLOCKCHAIN

Unlocking Carrier Opportunities in Blockchain

Unlocking Carrier Opportunities in Blockchain

Two years ago, the Carrier Blockchain Study Group (CBSG) was started when SoftBank and Sprint partnered with TBCASoft to develop a blockchain technology specifically for carriers.

Why?

Blockchain technology has been known to have the capability to become a valuable tool that enabled secured clearing, bill settlement, personal authentication, roaming, and IoT applications that leverage the telecom network.

It can even be innovated to become a powerful cross-carrier payment platform that prevents transaction failures between carriers. The benefits this can bring to carriers and their customer retention score is tremendous.

Innovating Carrier Services

Some solutions allow CSPs to deploy open standards-based APIs to automate inter-carrier services without having to mediate the murky waters of proprietary APIs. Blockchain platforms like TBCASoft allow carriers to work together on a distributed ledger system, enabling them to easily provide global services.

Synchronoss even showed a PoC along with SoftBank of how Blockchain and RCS-based mobile services can be used to disrupt the current messaging and payments market globally. This would be very helpful for international roaming services to be trouble-free for customers and their service providers.

By speeding up the inter-carrier agreement process from its current manual form into something automated on distributed ledgers, Telco’s can compete with Blockchain. An example was shared by Gal Hochberg, CEO of Clear Blockchain Technologies, where private blockchain technology based on Ethereum was used to build smart contracts that were coded and executed automatically as services were fulfilled.

Operator Business Opportunities

5G technology implementation can benefit from distributed ledgers to streamline processes. Blockchain can be used to incentivise access nodes for users or machines to support faster path selection, as 5G will require heterogenous access nodes and diverse access mechanisms.

Pleaes continue with info from this document from page 20 onwards.
https://www.gsma.com/newsroom/wp-content/uploads/IG.03-v1.0_Whitepaper.pdf

Where do we get started?

Before chosing a Blockchain solution, telcos need to understand the use case they wish to drive, and the value to be delivered through Blockchain technology for it. Next the data to be stored and processed should be identified along with supported programming languages. Important parameters at this point are Public Key Infrastructure, open ecosystem, transactions rate, consensus model, platform community, programmable smart contracts, computation needs and the deployment models as well as infra to support it.

As we conclude, it is easy to realise that leveraging blockchain technology by carriers will allow them to not only rejuvenate their business models and grow revenue, but also improve customer experience and possibly reduce churn.